Insurance News Archive
Property insurance holders 'seeing general election slowdown'
Posted by Michael Brown
The housing market has lost momentum this month as property insurance policyholders display caution ahead of the general election, according to a report.
Research by Hometrack showed that buyers are taking longer to commit to purchasing a property.
Estate agents have reported that the number of viewings needed per sale increased for the third consecutive month, according to Hometrack.
The research also found that the rate at which properties in England and Wales came on to the market outstripped demand from new buyers for the third month in a row.
"There has been evidence for some months that the supply/demand balance has been changing steadily, but the buyer slowdown has been exacerbated by the announcement of a May election," commented Richard Donnell, director of research at Hometrack.
FindaProperty.com recently reported that the average first-time buyer property price rose by 0.3 per cent this month to £155,242, which represented an increase of one per cent year-on-year.
26 Apr 2010
